The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1887-04-02


state OF the iron ore market and IL con-
tinues as quiet as "a May morning but
with this continued quiet we see nothing
10 justify us in reporting any decline in
prices and they remain without quot
able change Two weeks ago we stated
that "the product was too well sold up
for any PROBABILITY OF n drop in prices
this season and sellers have their prob
able output so well covered with orders
that they are not inclined 10 make con- |
cessions or push sales" The truth of
that statement has been bourn out to
the letter and, while no advance in val
ues is anticipated, il appears To be the
feeling that present prices will bc main
tanned. The strike on the \. Y, l. 4 O.
II. X. having been declared of, Il is pos
sible that shipments to furnaces the
coming week will improve. Lake freights
from Lake Superior ports for the season
remain as last quoted, VIZ: Ashland,
200, Marquette, 81 90, and Escanaba,
81 40, The local vessel men are doing
nothing Those vessels seeking engage
ments are supplied and the opening OF
navigation is alone awaited. We quote:
No | specular and magnetic Besse-
ores per ton. .......................Si oum %
No. | Specular (pon Bcsscmerl ores
per ton. ...,......,...........' pv"o Do
Bessemer 75m6 90
Nom Bcssemer lTematites..,............ oO@5 10
Above quotations are for delivery dur
ing the season and for present delivery,
fifty cents higher should be quoted
Cleveland Iron Trade Review.
The machinery for the Dunn mine on
section one, township forty-two, range
thirty-thrce arrived and was taken TO
that property this week. J II. King, Of
Plainesville, Ohio, prominently identified
with iron manufacturing and mining has
become interested i'm this exceptionally
promising property. The mine IL being
placed in shape for active work and il Is
estimated that it's 1887 output will be
not less than 10000 tons 10000 OF
, which have sold for this years delivery.
The plant OF machinery, which is a
good one, was purchased OF the Republic
Iron Co. Working will, this season be
confined TO an open pit. The ore body
has been tested for distance on the
length OF 800 feet, and an average width
, of sixty feet, without the foot wall. The
! Chicago x Northwestern have com
mcnced the construction OF a spur to the
! mine, which will be nearly three miles
: long and will cost in the neighborhood OF
! $4,000. The spur will be a prolong.
alton of the Mastodon branch, and ol
course would not be built unless the rail.
j way officials were certain the deposit oI
E ore was a large one and the quality all
: right.
tits the aim ofTHE DIAMOND Dull To oh
I tain and present Co its readers each week
< the very latest and most reliable news
: pertaining Go the mines and explorations
4 i'm this vicinity, but during the past tw,
weeks the editor has had much Co con
: tend with and consequently that depart
ment of the paper has not had proper
care, from the inct that To obtain suci
news the writer must, in order To pre-
sent authentic Information, be out anC
visit the scene Of workings and see thing
as they are. To do this has beer
among the impossibilities. This is I
matter that will soon DE remedied an,
- all mines, young and old, exploration
= and prcmeditated work will be properl,
- and Justly reported ON through the col
, umns Of THE DIAMOND DRILL.
y The following is "A circular sent out b.
= The Kimball Iron Mining Co, which
4 self explanatory; "To the stockholder
ie Of the Kimball Iron Mining Co: BY res
l. olution OF your board of directors, Tn
q sale Of treasury stock nc 800 wa
I closed at 600 p. m, March %. For
% limited time treasury stock can be pun
d shascd at S525 per share Sales hav
been equal 60 our expectations and tn
outlook for the future Is mostpromisinl
A complete outfit Of new machinery ha
been purchased and will be I'm place am
"A running by April 8, and our output cor
siderably augmented"
,t Ore OF an excellent quality has bee
lg found ON section twenty-five, TOWNSHIP
ie forty-three, range thirty-two, at tn
property known as the Windiall. Es
plorations have been carried ON her